Restrictions of Robinhood Stock Trading
McCune Law Group (MLG) is investigating Robinhood’s January 25, 2021 decision to restrict trading on GameStop stock. That decision appears to have caused GameStop’s stock price to tumble, likely costing Robinhood customers hundreds of millions of dollars.
Only five days after new retail investors and day traders flooded the markets causing the stocks of struggling businesses like GameStop to skyrocket, Robinhood and other investment brokerage companies began restricting and halting the trade of stocks for these companies. As a result, the value of these stocks which at one point increased up to 1,300% went into freefall. In one day, GameStop shares toppled 44%. MLG is investigating why Robinhood would make a decision that would harm its customers. This decision appears to blatantly benefit large institutional investors and hedge fund managers at the expense of individual investors, though Robinhood has only claimed, “Amid significant market volatility, it’s important as ever that we help customers stay informed.”
If you or someone you know lost money on GameStop or other stocks due to Robinhood’s trading freeze and restrictions, contact us today by completing the form.
We Are Formulating a Plan Against Robinhood.
While we have a strong reputation as a class action firm, we are confident this would be a difficult class action case to bring. Robinhood’s contracts include clauses and waivers that could be used to prevent a court proceeding and a class action case. However, we believe Robinhood must be held accountable for their actions. Currently, we are considering other options for litigation.
We are investigating the case in earnest and are seeking those who have been affected by this decision to share their experiences.
If you would like to be kept informed of our investigation results, please fill out the form.
If we choose to litigate, you will be the first to know how you can join the plaintiff party. If we decide against litigation, you will be informed with the utmost transparency why we came to that conclusion.
Let Us Know How You’ve Been Affected by These Restrictions.
Our choice to litigate can be greatly impacted by the number of plaintiffs we can gather. Our mission is to bring justice for those impacted by Robinhood’s seemingly unscrupulous actions. We do not just want to be the first to bring a case for the bragging rights. Our responsibility is to bring as solid a case as possible for our clients. We will not provide your information to anyone else outside of our firm.
If your investments have suffered due to Robinhood’s trading restrictions, fill out the form.